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Author Question: Critics of the supply-side tax cuts proposed by the Reagan administration argued that lower taxes ... (Read 214 times)

CORALGRILL2014

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Critics of the supply-side tax cuts proposed by the Reagan administration argued that lower taxes would:
 a. increase the budget deficit.
  b. decrease money supply in the economy.
  c. reduce the aggregate price level.
  d. reduce the disposable income of households.
  e. reduce the volume of international trade.

Question 2

As a result of an increase in a product's price:
 a. product supply increases.
 b. product supply decreases.
 c. product supply does not change, but quantity supplied increases.
 d. the impact on product supply is uncertain. Economic theory has no answer to this question.



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mcarey591

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Answer to Question 1

a

Answer to Question 2

c





 

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